Smsf

Property investment options: SMSFs versus discretionary trusts

Astute investors assess many options in choosing a structure for investment, with tax planning being one consideration among many. There are tax advantages in relation to using a discretionary family trust or a self-managed superannuation fund (SMSF). However, one question that needs to be answered by investors is: “When do you wish to realise any

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ATO takes aim at serious SMSF non-compliance

ATO takes aim at serious SMSF non-compliance. Speaking at national superannuation conference in late August, the ATO’s superannuation assistant commissioner Kasey Macfarlane highlighted a number of issues that the ATO will be taking a keen interest in over the coming year. Chief among these concerns, Macfarlane said, was the fact of serious non-compliance from SMSF

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When is it time to jettison the SMSF?

Ask yourself this question — have you reached the time and circumstances when running your own SMSF is not entirely appropriate anymore? There are specific instances when members are no longer able to be trustees of a SMSF and therefore unable to operate their fund. Tax & Super Australia is presenting a webinar that will

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SuperStream and SMSFs: Your employer will need some details, quick

The ATO has advised that as of October 28 this year, all employers will be required to be SuperStream compliant. The previous deadline of June 30 was extended, as by mid-June the ATO discovered that many (if not most) small businesses had trouble meeting that deadline. The end of October was picked, but that too

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Government backflips on major elements of the proposed superannuation tax reforms

The announcement today by the Government on the tempering of superannuation changes has delivered mixed news for Australian taxpayers.Government backflips on major elements of the proposed tax reforms Tax & Super Australia CEO Moti Kshirsagar says he fully supports the abandonment of the proposed $500,000 retrospective cap, as well as the corralling of $1.6 million

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$500,000 cap scrapped — and other superannuation “changes” announced

First of all, one wonders what has stayed the same in the rolling circus of superannuation reforms. $500,000 cap scrapped — and other superannuation “changes” announced The government has just announced what it terms “improvements” to the superannuation announcements that it made in the 2016-17 federal budget. In a media statement, Kelly O’Dwyer, Minister for

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A well-provided retirement? Rely on investment returns, not contributions

The contentious area of contribution caps is something that many SMSF trustees grapple with, but a new report may re-cast this as an overdone concern, especially regarding the eventual level of retirement savings that members end up with. A related factor (about which many may have already pondered) is how much of one’s eventual total

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Is breaking up harder for couple members of an SMSF?

Breaking up a marriage or relationship is hard on many levels, and the money put aside in superannuation is another (often substantial) asset that needs to be dealt with when couples have to consider dividing possessions in the event of a split. Naturally there are regulations drafted to deal with dividing super fund interests, however

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SMSFs win gold in retirement savings race

Our Olympian contingent arrived back home from Rio with a collective 29 medals, eight of them gold, securing Australia 10th place overall. But our Olympic champions can take extra comfort in knowing that they are back in a country where self managed superannuation funds are consistently taking 1st place and standing on the highest podium

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Proposed non-concessional cap reform a drag on ATO resources

In a speech given to a national SMSF conference, ATO deputy commissioner for superannuation James O’Halloran admitted that the government’s budget superannuation changes, even though these are yet to pass Parliament, are already having a significant impact on the ATO’s capacity to cope. “We have already seen some examples of these increased expectations emerging with

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